Wednesday 24th October, 2018
The project dubbed, Uganda-China Free Zone of
International Industrial Cooperation, undertaken by the Dongsong Energy Group,
will manufacture glass, steel and organic-fertilizers, creating about 3,000
jobs at p
KAMPALA, Oct. 24 (Xinhua) – Ugandan President
Yoweri Museveni on Tuesday launched the first phase of a US$620 million Chinese
industrial project in the eastern part of the African country.
The project dubbed, Uganda-China Free Zone of
International Industrial Cooperation, undertaken by the Dongsong Energy Group,
will manufacture glass, steel and organic-fertilizers, creating about 3,000
jobs at peak when completed in 2020.
Museveni said the project will reduce the
amount of money spent on importing some of the products that are now going to
be produced locally.
Museveni hailed China for encouraging both
private and state enterprises to invest in Africa.
Zheng Zhuqiang, Chinese ambassador to Uganda,
said the project was the biggest private investment in Uganda and would bring
in high tax revenue.
He thanked Museveni for the support to the
China-Uganda bilateral investments.
According to the Ugandan government, the
project will be a key component in the economic and trade cooperation between
China and Uganda.
The project located in Tororo district at the
border of Uganda and Kenya will also benefit neighbouring countries like
Rwanda, Kenya and Tanzania.
GNA